Press Release: Indigo Chooses P2’s Production Solutions for Its Field Data Capture and Production Accounting, Reporting and Analytics Work04/06/2016
Indigo will use the Merrick-powered solutions to manage the production from its 1,400-plus operated oil and gas wells
DENVER, CO – (April 6, 2016) – P2 Energy Solutions announced today that Indigo Minerals has selected P2’s Production solutions for its field data capture and hydrocarbon accounting, reporting and real-time analysis work, arming the Houston-based upstream oil and gas company with a complete production solution and laying the foundation for integration with its back-office accounting system.
Indigo will use the Merrick-powered solutions to manage the oil and gas production from its more than 1,400 operated wells, which are located in various regions across East Texas and North and Central Louisiana. As Indigo has grown in recent years, the team sought a user-friendly system for capturing data in the field, performing daily and monthly allocations, producing internal and regulatory reports, and visualizing key performance indicators in real time.
Indigo will also benefit from the integration between P2’s Production solutions and BOLO, the latter of which the company uses for oil and gas accounting and land management. Once the integration is in place at Indigo, whenever the accounting team sets up a well in BOLO, an identical well will be created on the production side, keeping the company’s master data accurate and synced between the two systems; the production and operations teams will be able to track daily and monthly production volumes, both gross and net, based on the division-of-interest information in BOLO; and the allocated production volumes in the production data management system will flow directly into BOLO.
“The fall in oil prices has prompted upstream oil and gas companies to focus on two things in particular – getting more production out of their existing assets and becoming more efficient,” said Chris Lenig, P2’s Senior Vice President of Production. “With P2’s Production solutions, Indigo will be able to do just that.”
Indigo is comprised of Indigo Minerals LLC and Indigo Resources LLC. Indigo Minerals LLC was formed in late 2006, backed by the Martin Companies, Yorktown Partners and Indigo management. Indigo Minerals has since pursued a two-pronged strategy of aggregating mineral interests and acquiring and developing operated working interest production. Indigo Resources LLC was formed in late 2015, backed by Yorktown Partners, Ridgemont and Indigo management. Indigo Resources was created with the acquisition of Compass Production Partners’ assets in northwest Louisiana (DeSoto and Caddo Parishes) and Texas (Panola and Gregg Counties), comprised of 89,722 net acres and 638 vertical wellbores producing approximately 31 Mmcfed net wellhead production at year-end 2015. www.indigominerals.com.
P2 Energy Solutions Empowers the People Who Power the World. Upstream oil and gas professionals who are focused on solving tough challenges rely on P2 software, data and analytics solutions to optimize their business performance. More than 1,200 companies from around the world use P2 solutions every day to manage their land assets, measure and process financial information, optimize production, manage their reserves and so much more. www.p2energysolutions.com.